Houlihan Financial Resource Group Ltd. Buys New Shares in ConocoPhillips (NYSE:COP)

Houlihan Financial Resource Group Ltd. purchased a new stake in shares of ConocoPhillips (NYSE:COP) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,660 shares of the energy producer’s stock, valued at approximately $211,000.

A number of other hedge funds also recently modified their holdings of COP. Massachusetts Financial Services Co. MA increased its holdings in ConocoPhillips by 0.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 27,672,104 shares of the energy producer’s stock valued at $3,211,901,000 after buying an additional 108,956 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in ConocoPhillips by 24.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,712,617 shares of the energy producer’s stock valued at $2,752,325,000 after buying an additional 4,726,952 shares in the last quarter. Bank of New York Mellon Corp raised its stake in ConocoPhillips by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 14,986,970 shares of the energy producer’s stock worth $1,907,542,000 after acquiring an additional 826,529 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of ConocoPhillips by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 12,011,035 shares of the energy producer’s stock worth $1,394,162,000 after purchasing an additional 270,859 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in ConocoPhillips by 2.8% in the fourth quarter. Fisher Asset Management LLC now owns 7,425,948 shares of the energy producer’s stock valued at $861,930,000 after buying an additional 204,714 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Scotiabank reduced their target price on ConocoPhillips from $135.00 to $120.00 and set a “sector perform” rating on the stock in a report on Friday. Truist Financial increased their price objective on shares of ConocoPhillips from $160.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Morgan Stanley upped their target price on shares of ConocoPhillips from $123.00 to $129.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. StockNews.com lowered shares of ConocoPhillips from a “buy” rating to a “hold” rating in a report on Monday. Finally, Mizuho lowered their target price on ConocoPhillips from $142.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday, June 5th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.75.

ConocoPhillips Stock Down 0.7 %

Shares of ConocoPhillips stock traded down $0.83 during trading on Friday, reaching $113.16. The stock had a trading volume of 4,505,291 shares, compared to its average volume of 5,586,147. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $132.34 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 2.01 and a beta of 1.23. The stock has a fifty day moving average price of $115.50 and a two-hundred day moving average price of $117.40. ConocoPhillips has a 52 week low of $105.77 and a 52 week high of $135.18.

ConocoPhillips (NYSE:COP) last released its earnings results on Thursday, May 2nd. The energy producer reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.04. ConocoPhillips had a net margin of 18.40% and a return on equity of 20.85%. The business had revenue of $14.48 billion during the quarter, compared to the consensus estimate of $14.72 billion. Sell-side analysts predict that ConocoPhillips will post 8.89 EPS for the current fiscal year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 13th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, May 10th. ConocoPhillips’s payout ratio is presently 26.27%.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.